Zacks Investment Research upgraded shares of Farmer Brothers Co. (NASDAQ:FARM) from a strong sell rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Farmer Bros. Co. is in the business of roasting, packaging and distributing coffee and allied products to restaurants, hotels, hospitals, convenience stores and fast food outlets. The company’s primary raw material is green coffee. Green coffee is purchased through domestic commodity brokers. Coffee is an agricultural commodity, and is subject to fluctuations of both price and supply. “

Separately, B. Riley reiterated a buy rating and set a $34.00 price target on shares of Farmer Brothers in a research report on Friday, September 9th.

Farmer Brothers (NASDAQ:FARM) traded up 2.47% during trading on Tuesday, hitting $33.25. 12,526 shares of the company’s stock traded hands. The company’s 50 day moving average is $33.03 and its 200-day moving average is $31.58. Farmer Brothers has a 12 month low of $24.04 and a 12 month high of $36.96. The stock has a market cap of $550.69 million, a P/E ratio of 6.01 and a beta of 1.12.

Farmer Brothers (NASDAQ:FARM) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.05. Farmer Brothers had a net margin of 17.10% and a return on equity of 13.48%. The company had revenue of $130.50 million for the quarter, compared to analysts’ expectations of $136.23 million. During the same quarter in the prior year, the firm earned $0.25 EPS. Farmer Brothers’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts predict that Farmer Brothers will post $1.05 earnings per share for the current year.

In other Farmer Brothers news, CEO Michael H. Keown sold 12,000 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $32.59, for a total value of $391,080.00. Following the sale, the chief executive officer now owns 59,242 shares in the company, valued at $1,930,696.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 38.10% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the company. Royce & Associates LP boosted its stake in shares of Farmer Brothers by 1.6% in the second quarter. Royce & Associates LP now owns 506,977 shares of the company’s stock worth $16,254,000 after buying an additional 8,100 shares during the period. GSA Capital Partners LLP increased its position in Farmer Brothers by 24.1% in the second quarter. GSA Capital Partners LLP now owns 67,467 shares of the company’s stock valued at $2,163,000 after buying an additional 13,111 shares during the last quarter. Cadence Capital Management LLC acquired a new position in Farmer Brothers during the second quarter valued at $418,000. Emerald Acquisition Ltd. acquired a new position in Farmer Brothers during the second quarter valued at $1,108,000. Finally, Mutual of America Capital Management LLC increased its position in Farmer Brothers by 2.9% in the second quarter. Mutual of America Capital Management LLC now owns 137,133 shares of the company’s stock valued at $4,396,000 after buying an additional 3,807 shares during the last quarter. Institutional investors and hedge funds own 47.76% of the company’s stock.

Farmer Brothers Company Profile

Farmer Bros. Co is a manufacturer, wholesaler and distributor of coffee, tea and culinary products. The Company’s customers include restaurants, hotels, casinos, offices, quick service restaurants (QSRs), convenience stores, healthcare facilities and other foodservice providers, as well as private brand retailers in the QSR, grocery, drugstore, restaurant, convenience store and coffee house channels.